KPMG in Brazil selected as global auditor for Brazilian multinational, Vale.
One of the largest mining companies in the world, Vale, is a global leader in the production of iron ore and nickel. While its headquarters and roots are in Brazil, the company is now established in more than 30 countries on five continents.
Vale became privatized in 1997, and KPMG in Brazil provided advisory support through the process and, since then, we have been providing advisory and tax services on a global basis. In October 2013, Vale selected KPMG as its global auditor. With its far-reaching operations, a threshold requirement for Vale was that their auditor have qualified resources in all the countries where they operate in order to meet the requirements of a complex global audit. This helped to distinguish KPMG, according to Manuel Fernandes, global lead partner with KPMG in Brazil, “KPMG member firms have the necessary presence in important countries for Vale, from Canada and Australia to Indonesia, Mozambique and New Caledonia.”
There has also been a great deal of collaboration among KPMG professionals, with global mobility playing a crucial role. “For example, we have had a director from KPMG in Canada who is very experienced with base metals join our team in Brazil, and one of our Brazil firm managers is currently working on the client team with KPMG in Mozambique,” according to Fernandes.
Vale also values the long experience of KPMG in Brazil in the resources sector, as well as the capabilities of KPMG’s global mining sector team. “KPMG has 14 mining centers in 11 countries around the globe, so throughout the world KPMG is able to provide Vale with the depth of insight required in this extremely complicated sector," said Wayne Jansen, KPMG Global Head of Mining.